Gold little changed amid rate hike fears
13/04/2015 12:29
Gold futures were trading flat in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the precious metal amid renewed fears of a looming interest rate hike in the US, dimming the demand for gold as a store of value.
Federal Reserve Bank of Richmond President Jeffery Lacker repeated calls for the world’s top central bank to raise its benchmark rate in June, while stressing that the rate could be adjusted downwards if economic data warranted.
At the MCX, Gold futures for June 2015 contract was trading at Rs 26,780 per 10 gram, unchanged after opening at Rs 26,760, against the previous closing price of Rs 26,781. (At 11:56 AM today).
13/04/2015 12:29
Gold futures were trading flat in the domestic market on Monday as investors and speculators stayed cautious over booking fresh positions in the precious metal amid renewed fears of a looming interest rate hike in the US, dimming the demand for gold as a store of value.
Federal Reserve Bank of Richmond President Jeffery Lacker repeated calls for the world’s top central bank to raise its benchmark rate in June, while stressing that the rate could be adjusted downwards if economic data warranted.
At the MCX, Gold futures for June 2015 contract was trading at Rs 26,780 per 10 gram, unchanged after opening at Rs 26,760, against the previous closing price of Rs 26,781. (At 11:56 AM today).
